Collets are normally used in lathe machines for holding work stocks, usually bars or rods stocks, for machining. A two-piece collet comprises a tubular body and a collet head. The rear portion of the collet head is secured to one end of the tubular body. The collet head normally comprises a plurality of segments held together by resilient means, such as rubber inserts, as disclosed in U.S. Pat. No. 4,858,938, hereby incorporated by reference. The collet head is installed or removed relative to its tubular body by appropriately compressing the collet head at its rear portion such that the collet head may be inserted into the collet body and be secured to a securing means. Removal of the collet head is performed in a similar fashion by compressing the collet head rear portion until it disengages.
The need for installing or removing a collet head may occur several times during production. When the need arises, it is advantageous to minimize the resulting downtime by using a tool to speed up the installation or removal operation.